Around the years of 2005, it was an often spoken statistic that homeowners in Portland, Oregon stayed sevens years in their home. After that, they’d be looking to either upsize or downsize.
It’s easy to see why homeowners stay longer in cities where the cost of housing is high and they have no choice.
❱ Similar to last quarter, total sales activity was a mixed bag: there were increases in five counties and declines in four. The largest annual increase was in Broadwater County, where sales were up more than 45%, though the increase was only five units. The largest decline in sales was in Gallatin County.
New listings same as last year but fewer closed sales. The supply of homes is 18% lower than last year and the price of homes has increased 13%!
That’s an appreciation of 1% per month.
With an average sales price increase of 24%, it’s time to get off the fence and list your home while the market is HOT!
Per the NAR end of year Buyer & Seller Profile Report, B and the internet to find the right home
For the third year in a row, 95% of buyers used the internet at some point during their home search process, and 50% said that they found the home they eventually purchased online. Eighty-six percent of buyers used a real estate agent in their home search, and repeat buyers were more likely to use an agent than first-timers (87% to 86). Overall, 87% of buyers ended up purchasing their home through a real estate agent (the same as 2017), as finding the right home and negotiating terms of sale were the top factors buyers desired from their agent. Ninety percent of respondents said they would definitely or probably use their agent again or recommend them to someone else.